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Corporate America warned President Donald Trump that his trade war could end up erasing some of the savings reaped from the sharp cut in the corporate tax rate. The steel and aluminum tariffs could eat up anywhere from about a third to well more than half of the tax benefits in 2018, a Bloomberg analysis shows.

The U.S. Treasury Department has gone from economic diplomats to trade warriors, a shift that leaves Secretary Steven Mnuchin once again exposed to broadsides from global counterparts as tensions grow ahead of a multilateral summit.

Whether it’s the price of hiring giant freighters to haul hundreds of millions of tons a year of iron ore and coal, or smaller carriers moving grains, there’s a theme emerging: dry- bulk shipping rates are rallying despite an escalating trade war that may yet damage China’s economy.

The U.S. trade deficit narrowed in May to its smallest since October 2016 on a jump in exports of soybeans and aircraft amid the threat of retaliatory tariffs.

Commerce Secretary Wilbur Ross said it’s a “little premature” to discuss the U.S. withdrawing from the World Trade Organization as the Trump administration continues to look at ways to improve the global trade body.

Back on March 23, 2017, President Donald Trump welcomed trucking industry representatives to the White House for a discussion on health care. During their visit, Trump, wearing an “I [heart] truckers” pin, climbed into the cab of a Mack truck parked on the lawn, pumped his fists and pretended to drive the stationary big rig.

Some economists are detecting signs in data that trade tensions are having an impact on American companies.

To understand what a trade war means for America, go to the Mississippi. Follow the mud-brown river past Louisiana’s chemical plants, oil refineries, granaries, ports, and the rail networks and highways that spring from its fingers.

Auto manufacturers and suppliers based outside the United States condemned the Trump administration’s investigation into imports of cars and parts by portraying as absurd the idea that their products pose national security risks.